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Chinese maker of power electronics including EV chargers, UPS and energy-storage converters.
Chinese maker of power electronics including EV chargers, UPS and energy-storage converters.
Moat: narrow (process know-how). Power-electronics design know-how across multiple high-power conversion products.
Headquarters: Shenzhen, China · Employees: 2,669
Size Shenzhen Sinexcel Electric (300693.SZ) is a China Information Technology company (Electronic Production Equipment) with a market value of $1.57B, the 1567th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥33.47 on 6 Nov 2026.
Performance Over six months the shares fell 28.0%, against -23.4% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 27.3% over the last twelve months (peer median +10.2%); the operating margin is 14.6% (peer median 8.8%).
Valuation It trades at 17.2× forward earnings against a peer median of 26.0× (4th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +35%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.2 points above its cost of capital (11.7% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.02B | CN¥3.44B | CN¥3.02B | CN¥2.63B | CN¥1.50B |
| Revenue growth | — | +14% | +15% | +76% | — |
| Gross profit | CN¥1.61B | CN¥1.29B | CN¥1.15B | CN¥1.06B | CN¥642M |
| EBITDA | n/a | CN¥577M | CN¥519M | CN¥424M | CN¥265M |
| Net income | CN¥565M | CN¥476M | CN¥429M | CN¥403M | CN¥224M |
| Free cash flow | CN¥710M | CN¥581M | CN¥221M | CN¥299M | CN¥61.5M |
| Capital expenditure | CN¥147M | CN¥124M | CN¥147M | CN¥146M | CN¥143M |
| Total debt | CN¥500M | CN¥459M | CN¥460M | CN¥427M | CN¥336M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Shenzhen Sinexcel Electric 300693.SZ | $1.57B | -28% | +27% | 15% | 17.2× | 13.1% |
| Kehua Data 002335.SZ | $2.81B | -41% | +5% | 5% | 31.4× | 16.7% |
| Sungrow Power Supply 300274.SZ | $25.3B | -40% | -24% | 12% | 14.9× | 12.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 300693.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.3% | -18.8% | 4th highest of 21 |
| 6-month return | -28.0% | -23.4% | 7th lowest of 20 |
| Distance from 52-week high | -53.0% | -51.1% | 8th lowest of 21 |
| Revenue growth (TTM) | +27.3% | +10.2% | 6th highest of 21 |
| Operating margin | 14.6% | 8.8% | 7th highest of 21 |
| Forward P/E | 17.2× | 26.0× | 4th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 13.1% | 15.3% | 7th least demanding of 13 |
| Growth delivered (Del g) | +35.0% | +9.3% | highest of 13 |
| Hurdle (Req g minus delivered) | -21.9 pp | +3.5 pp | 2nd least demanding of 13 |
| ROIC minus cost of capital | +11.2 pp | -2.8 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Sinexcel Electric 300693.SZ | China | $1.57B | -28% | +27% | 15% | 17.2× | 13.1% | +35.0% |
| Photronics PLAB | United States | $1.61B | -49% | +1% | 22% | 13.3× | 1.9% | +6.9% |
| CTS CTS | United States | $1.65B | -6% | +7% | 16% | 20.3× | 8.5% | +5.0% |
| Beijing Relpow Technology 300593.SZ | China | $1.68B | -27% | +16% | -14% | 286.9× | n/a | n/a |
| Shenzhen Bluetrum Technology 688332.SS | China | $1.71B | -17% | +6% | 7% | 37.6× | n/a | n/a |
| Suzhou Betely Polymer Materials 301697.SZ | China | $1.44B | n/a | +45% | 5% | n/a | n/a | n/a |
| Sichuan Injet Electric 300820.SZ | China | $1.71B | +4% | -12% | 13% | 35.8× | 29.9% | +29.0% |
| Aehr Test Systems AEHR | United States | $1.75B | -45% | -15% | -28% | n/a | n/a | n/a |
| Nolato NOLA-B.ST | Sweden | $1.40B | +5% | 0% | 10% | 18.8× | 3.9% | +0.2% |
| TKD Science and Technology 603738.SS | China | $1.39B | -37% | +20% | 9% | 42.5× | 44.4% | +8.4% |
| TPV Technology 000727.SZ | China | $1.38B | -23% | +7% | -1% | n/a | n/a | n/a |
| Visual Photonics Epitaxy 2455.TW | Taiwan | $1.80B | -17% | +34% | 26% | 34.1× | 38.7% | +5.0% |
| DBG Technology 300735.SZ | China | $1.81B | -28% | +17% | 2% | 26.0× | 3.5% | +31.6% |
| Shenzhen Success Electronics 002289.SZ | China | $1.33B | -9% | +237% | 27% | n/a | 24.4% | +18.8% |
| Dongguan Tarry Electronics 300976.SZ | China | $1.33B | +4% | +19% | 9% | 15.3× | 17.5% | +27.2% |
| Doosan Fuel Cell 336260.KS | South Korea | $1.33B | -56% | -19% | -31% | n/a | n/a | n/a |
| Shenzhen Microgate Technology 300319.SZ | China | $1.86B | +12% | +11% | 8% | 30.5× | 22.5% | +10.3% |
| TXC 3042.TW | Taiwan | $1.28B | -26% | +9% | 17% | 14.4× | 10.7% | +3.9% |
| Grand Process Technology 3131.TWO | Taiwan | $1.27B | -51% | +38% | 22% | 18.3× | 13.0% | +21.2% |
| Shenzhen Hui Chuang Da Technology 300909.SZ | China | $1.26B | +4% | +3% | 2% | n/a | n/a | n/a |
| Maxvision Technology 002990.SZ | China | $1.26B | -39% | +36% | 14% | n/a | n/a | n/a |